HSBC's Mukhtar Hussain To Move To Malaysia As Country CEO

Wednesday, Oct 07, 2009

DUBAI (Zawya Dow Jones)--Mukhtar Hussain is stepping down as head of HSBC Holding PLC's (HBC) Middle East investment banking unit and will move to Malaysia as the bank's country chief, a spokesman said Wednesday.

"I don't think this will have any impact on the bank's business here," the Dubai-based HSBC spokesman told Zawya Dow Jones.

Hussain, who will relocate to Malaysia from Dubai, will remain head of HSBC's Islamic Amanah unit and stay on the bank's Middle East unit board, the spokesman added.

After joining HSBC in 1982, Hussain has held a number of senior management positions. He was appointed head of Amanah in April last year.

-By Mirna Sleiman, Dow Jones Newswires, +9714 364 4966, mirna.sleiman@dowjones.com] Copyright (c) 2009 Dow Jones & Co.

(END) Dow Jones Newswires

07-10-09 1247GMT